Smiths sees favourable medium term impact of US from US tax change

Smiths Group said the net impact of new US tax legislation on the group would be “favourable over the medium term”.

In a statement, the company said it anticipated a headline effective tax rate of 27.5-28.5%, which includes the one-off adverse revaluation of the deferred tax asset position for the current financial year.

Smiths added the headline effective tax rate is estimated to be in the range of 23%-25% for the next financial year and beyond.